The Manufacturers Life Insurance Company Has $5.64 Million Position in Orla Mining Ltd. $ORLA

The Manufacturers Life Insurance Company reduced its holdings in Orla Mining Ltd. (NYSEAMERICAN:ORLA) by 32.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 350,899 shares of the company’s stock after selling 170,694 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Orla Mining were worth $5,638,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of ORLA. CIBC Private Wealth Group LLC acquired a new position in Orla Mining during the third quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd bought a new stake in Orla Mining in the 4th quarter valued at $29,000. SBI Securities Co. Ltd. increased its position in Orla Mining by 67.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 4,672 shares of the company’s stock worth $63,000 after acquiring an additional 1,889 shares during the period. TD Waterhouse Canada Inc. increased its holdings in shares of Orla Mining by 197.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 5,313 shares of the company’s stock worth $71,000 after purchasing an additional 3,524 shares during the period. Finally, Osaic Holdings Inc. raised its holdings in Orla Mining by 82.2% in the 2nd quarter. Osaic Holdings Inc. now owns 10,161 shares of the company’s stock valued at $102,000 after acquiring an additional 4,584 shares in the last quarter. Institutional investors own 43.04% of the company’s stock.

Orla Mining Price Performance

ORLA opened at $9.44 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of 13.88 and a beta of 0.28. Orla Mining Ltd. has a 12-month low of $8.43 and a 12-month high of $21.98. The business’s fifty day simple moving average is $10.07 and its 200-day simple moving average is $13.98.

Orla Mining Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 26th were issued a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Tuesday, May 26th. Orla Mining’s dividend payout ratio (DPR) is -599.40%.

Wall Street Analysts Forecast Growth

ORLA has been the topic of several analyst reports. TD Securities upgraded shares of Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. Zacks Research lowered Orla Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Finally, TD Cowen upgraded Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Orla Mining presently has an average rating of “Buy” and an average price target of $27.00.

Orla Mining Company Profile

Orla Mining is a Canada-based mineral exploration and development company focused on advancing gold and silver projects in the Americas. Its flagship asset is the Cerro Quema oxide gold-silver project in Panama, where the company holds approximately 13,000 hectares of mineral concessions. Through feasibility studies and pilot plant testing, Orla has demonstrated the potential of heap leach processing at Cerro Quema, positioning the asset for transition into construction and production phases.

In addition to Cerro Quema, Orla Mining expanded its portfolio in early 2023 with the acquisition of the Gold Springs project located along the Utah–Nevada border in the United States.